APR Definition

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APR is Annual Percentage Rate, i.e. the true interest rate charged on a loan.

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INSTALLMENT SALE is selling property and receiving the sales price over a series of payments, instead of all at once at the close of the sale, is an installment sale. As the seller, unless you elect out, you will report the gain on that transaction as you receive it through the series of payments. As the buyer, you will usually pay interest on the unpaid balance.

IMMATERIALITY is of complete irrelevance requiring no further consideration.

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